SKYCONNECT
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Problem
Air travelers often experience flight delays, cancellations, and other rights violations but face significant hurdles in claiming compensations. The process is complex, time-consuming, and requires knowledge of aviation laws and passenger rights, which most travelers lack.
Airlines may not proactively inform passengers of their rights, leading to billions in unclaimed compensations annually.
This lack of accessibility to rightful reimbursements results in financial losses for passengers and diminishes trust in airline services.
Solution
SkyConnect is an automated platform that acts on behalf of passengers to secure reimbursements from airlines during flight disruptions and rights violations.
● By inputting flight details, the platform assesses eligibility for compensation based on aviation regulations.
● SkyConnect then automatically contacts the airline, manages all correspondence, and processes the claim efficiently.
● It simplifies the legal complexities, saves time, and increases the likelihood of successful reimbursements without the passenger needing to navigate the intricate claims process.
Market Potential
● Target Market: Global airline passengers affected by flight delays and cancellations.
● Market Size: In Europe alone, it's estimated that passengers are entitled to over €5 billion in compensations yearly, with a global potential exceeding $10 billion.
● Growth Drivers: Increasing air travel, frequent flight disruptions due to various factors (weather, technical issues, staffing shortages), and heightened awareness of passenger rights.
● Competitive Advantage: SkyConnect's automation and user-friendly interface provide a faster and more efficient service compared to traditional claim agencies or self-processing.
Team
Strong technical founding team.
Monetization Strategy
● Commission-Based Model: Charging a success fee (e.g., 15-25%) only when the passenger receives compensation.
● Premium Subscription: Offering a membership with benefits like higher priority processing, travel delay alerts, and additional travel protection services.
● B2B Partnerships: Collaborating with travel agencies, airlines, and credit card companies to offer SkyConnect's services to their customers, generating revenue through referral fees.
● Data Insights: Aggregating anonymized data on flight disruptions to sell insights to industry stakeholders, enhancing operational strategies (ensuring compliance with data protection laws).